North Carolina

CBRE Brokers $30.3M Sale-Leaseback of Manufacturing Facility in Statesville, North Carolina

by Julia Sanders April 1, 2022

STATESVILLE, N.C. — CBRE has brokered the sale-leaseback of a 416,300-square-foot manufacturing facility in Statesville. Nevada-based CAI Investments purchased the property for $30.3 million. Patrick Gildea, Trey Barry, Matt Smith, Grayson Hawkins and John Christenbury of CBRE represented the seller and tenant, Kewaunee Scientific Corp., in the sale-leaseback transaction. Kewaunee Scientific Corp. is a designer and manufacturer of laboratory, healthcare and technical furniture products. The Statesville building serves as Kewaunee Scientific’s primary manufacturing facility. Situated on 21.3 acres at 2700 W. Front St., the property is located within three miles of the Interstates 40 and 77 and about 41.6 miles north of Charlotte.

April 1, 2022

Acquisitions North Carolina Office Southeast

APG Capital Buys Office Building in McLeansville, North Carolina for $17M

by Julia Sanders April 1, 2022

MCLEANSVILLE, N.C. — CN Investors LLC, an affiliate of Raleigh-based APG Capital, has purchased a 176,778-square-foot office building in McLeansville. The Class A property sold for $17 million. Patrick Gildea of CBRE represented the undisclosed seller. Daniel Walser and James Anthony III at APG were responsible for sourcing the deal and closing the acquisition. Originally built in 2004 to house Citibank, the three-story office building is situated on 21 acres. Today, the property’s tenant includes LabCorp, a Burlington, N.C.-based lab test provider. Located at 5450 Millstream Road, the property is situated 36.2 miles from Winston-Salem and 45 miles from Durham.

April 1, 2022

Acquisitions North Carolina Retail Southeast

JLL Arranges Sale of Wegmans-Anchored Shopping Center in Metro Raleigh

by Julia Sanders March 31, 2022

CARY, N.C. — JLL Capital Markets has arranged the sale of Twin Lakes Center, a multi-tenant shopping center in Cary anchored by Wegmans. Thomas Kolarczyk and Ryan Eklund of JLL represented the seller, Leyland Alliance. Dallas-based L&B Realty Advisors acquired the property on behalf of an institutional client. The sales price was not disclosed. Built in 2020, Twin Lakes Center was fully leased at the time of sale to tenants including Hollywood Feed, Great Clips, Mezeh Mediterranean Grill, Premier Martial Arts, PM Pediatrics, Paris Nail Bar, Bul Box and Gulli Boys. Situated on 1.7 acres at 1125 Hatches Pond Lane, Twin Lakes Center is situated 16.1 miles from Raleigh and 14.1 miles from Durham.

March 31, 2022

Acquisitions Arkansas Multifamily North Carolina Southeast Student Housing Tennessee

Newmark Brokers Sale of Four-Property Student Housing Portfolio Across Southeast, Illinois

by Julia Sanders March 31, 2022

AUSTIN, TEXAS — Newmark has brokered the sale of a four-property portfolio of mid-rise student housing properties totaling 1,441 beds. The properties are situated adjacent to public universities in the Southeast and Illinois. Ryan Lang, Jack Brett, Ben Harkrider, Tim McKay, Debra Corson, Blake Pera and Dean Smith of Newmark represented the seller, Rael Corp., in the transaction. The sales price and the buyer were not disclosed. The properties include: Gather Illinois, which is located near the University of Illinois at 410 North Lincoln Ave. in Urbana, Ill.; Gather Uptown located near East Carolina University at 400 South Greene St. in Greenville, N.C.; Gather Dickson located near the University of Arkansas at 333 St. Charles Ave. in Fayetteville, Ark.; and Gather Southern located near the University of Memphis at 3655/3695 Southern Ave. in Memphis.

March 31, 2022

Acquisitions Multifamily North Carolina Southeast

American Landmark Purchases Two Multifamily Communities in North Carolina

by Julia Sanders March 28, 2022

CHARLOTTE AND HILLSBOROUGH, N.C. — Tampa, Fla.-based American Landmark Apartments has purchased two multifamily communities in North Carolina for an undisclosed price. The seller was also not disclosed. The two properties include Ardmore King’s Grant Apartments in Charlotte and the 270-unit Ardmore Cates Creek Apartments in Hillsborough. American Landmark plans to enhance both properties with landscaping and amenity upgrades, along with adding new subway tile kitchen backsplashes, upgraded cabinets, new faucets and lighting fixtures, new ceilings fans and new USB outlets to all units. Ardmore King’s Grant Apartments has been renamed Conrad at Concord Mills. Built in 2015 and located at 9015 Kings Grant Drive, Conrad at Concord Mills offers one-, two- and three-bedroom floorplans ranging from 740 to 1,430 square feet. Community amenities include a pool, grilling pavilions, fitness center, complimentary Starbucks Coffee bar, pet play area and pet wash station, car wash station and valet trash. Ardmore Cates Creek has been renamed Cadence at Cates Creek. Built in 2016 and located at 100 Waterstone Park Circle, Cadence at Cates Creek offers one-, two- and three-bedroom floorplans ranging from 753 to 1,509 square feet. Community amenities include a saltwater swimming pool, onsite clubhouse with resident lounge, business center, fitness …

March 28, 2022

Acquisitions Florida Multifamily North Carolina South Carolina Southeast

Arch Cos. Sells Multifamily Portfolio in Carolinas, Florida for $199M

by Julia Sanders March 18, 2022

NEW YORK CITY — Arch Cos. has sold 1,993 multifamily units across six properties in Winston-Salem, N.C.; Spartanburg, S.C.; and Jacksonville, Fla. The sales price was $199 million. The buyer was not disclosed. Arch Cos. invested more than $15.5 million in capital expenditures in the properties and renovated 59 percent of all units over the past two years. The properties in the sale include The Arlington, The Arcadian and The Charleston in Winston-Salem; The Abner in Spartanburg; and Riverbank and Midtown Oaks in Jacksonville. Jeffrey Julien, Roberto Casas, Vic Ciancetta, Bill Weber, Bill Shippen and Denise Fansler of JLL represented Arch Cos. in the portfolio transaction. Other agents involved in the transaction include Kay Hill and Bern DuPree of Furman Capital Advisors and John Rutherford of NAI Hallmark.

March 18, 2022

Acquisitions Development Industrial North Carolina Southeast

Merritt Properties Buys 142 Acres Near Raleigh, Plans to Build Industrial Park

by Julia Sanders March 17, 2022

CARY, N.C. — Merritt Properties has bought 142 acres in Cary for $9 million with plans to build Merritt RDU Business Park, a 738,750-square-foot industrial park. The transaction includes three parcels. Construction is expected to begin early 2023. The seller of the land was not disclosed. Merritt RDU Business Park will span up to 13 single-story buildings ranging from 8,400 to 108,225 square feet. The industrial park will offer clear heights from 18 to 32 feet, leasable bays starting at 1,500 square feet, traditional rear-loaded docks and drive-in capabilities and free surface parking. The first phase of the project will include three buildings on the western side of the site, near the corner of Nelson and Pleasant Grove Church roads. The park will be located three miles from RDU International Airport, and will be close to Interstates 540 and 40, as well as US Highway 70. The project will be Merritt’s’ sixth speculative industrial project in the state, as well as the company’s largest North Carolina project since 2020. Merritt has nearly 2 million square feet of leasable space that is developed, proposed or under construction across five other projects in the Triangle area.

March 17, 2022

Acquisitions North Carolina Retail Southeast

Irgang Group Acquires 196,462 SF Shopping Center in Metro Charlotte

by Julia Sanders March 16, 2022

MONROE, N.C. — Nyack, N.Y-based Irgang Group has acquired Poplin Place, a 196,462-square-foot regional shopping center in Monroe, about 21.3 miles south of Charlotte. Ben Bruner of the Bruner Group represented Irgang Group in the transaction. Thomas Kolarczyk, Danny Finkle and Eric Williams of JLL Capital Markets represented the seller, Big V Property Group. The sales price was not disclosed. Built in 2005, Poplin Place is fully occupied by an anchor tenant lineup that includes T.J. Maxx, Ross Dress for Less, PetSmart, Burlington, Big Lots and pOpshelf. Poplin Place’s other tenants include Boot Barn, Rack Room Shoes, Kay Jewelers and Claire’s. Additionally, the center’s former Dress Barn space was divided to accommodate Bath & Body Works and Spectrum. Located on 30.2 acres at 2901 W US Highway 74, Poplin Place is located 28 miles from Charlotte Douglas International Airport and 28 miles from the University of North Carolina at Charlotte. Target shadow-anchors the shopping center.

March 16, 2022

Acquisitions North Carolina Office Southeast

Taconic Capital Advisors Sells Office Building in Charlotte for $21M

by Julia Sanders March 15, 2022

CHARLOTTE, N.C. — Taconic Capital Advisors has sold Three Resource Square, a 125,728-square-foot, Class A office building in Charlotte. Praelium Commercial Real Estate purchased the property for $21 million. Patrick Gildea, Matt Smith, Grayson Hawkins, Joe Franco and Stephanie Spivey of CBRE represented the seller in the transaction. Harris Ralston and C.J. Kelly of CBRE arranged an undisclosed amount of debt financing through Prime Finance on behalf of the buyer. Built in 1999, Three Resource Square was 85 percent leased at the time of sale. The property will be anchored by Republic Services, a solid waste management company, through 2026. The property’s other tenant is Resolvion, a financial services firm. The office property offers a six per 1,000-square-foot parking ratio and a fitness center. Located at 10815 David Taylor Drive, the property is situated close to Charlotte Douglas International Airport, the University of North Carolina at Charlotte and Interstate 85. Additionally, the property is situated within one mile from Centene’s 1 million-square-foot East Coast headquarters campus.

March 15, 2022

Acquisitions Florida Industrial North Carolina Southeast Tennessee

Atlanta Property Group Acquires Three Industrial Facilities Totaling 545,000 SF Across Southeast

by Julia Sanders March 14, 2022

ATLANTA — Atlanta Property Group has acquired three distribution facilities in the metro areas of Atlanta, Nashville and Charlotte totaling 545,000 square feet. The sellers and sales price were not disclosed. The three properties include Oates Crossing in Mooresville, N.C.; 5470 Oakbrook Parkway in Norcross, Ga.; and 109 Kirby Drive in Portland, Tenn. Oates Crossing is a 240,000-square-foot industrial park that is fully leased to a diverse tenant base. The site also includes a fully zoned, 8.3-acre parcel that can support an additional 60,000-square-foot industrial building, which Atlanta Property Group plans to build soon. The property is situated along Interstate 77, about 29.7 miles north of Charlotte. The next property, 5470 Oakbrook Parkway, is an 85,000-square-foot shallow-bay industrial building. The facility is situated close to Interstate 85 and is about 21 miles north of downtown Atlanta. The property was 88 percent leased at the time of sale. Built in 1990, 109 Kirby Drive is a 220,000-square-foot, single-tenant warehouse that features 17 dock doors. The fully leased property is situated about 39.7 miles from Nashville and has immediate access to Interstate 65.

March 14, 2022

Newer Posts

Older Posts